Being on the hook is not going to be pretty when interest rates are raised back up, and debts come due. At a personal level, it will mean more stress and juggling to make ends meet. For the larger economy, it will mean cities and states unable to meet obligations or balance their budgets – ending in bankruptcy, and bailouts. Meanwhile, millions of people are relying on that money to keep coming in order to survive. Something is going to go very wrong.
Relying upon government to function and send you money is not a secure plan.
The mathematics are terrifying and dismal, and so is being caught up in these collapsing states.
In the next phase of the financial crisis, the debt supercycle will become the most defining feature of the big hurt that will fall on nearly everyone.
That’s the dire warning that Goldman Sachs issued about what they termed the Third Wave of the global collapse. But it hasn’t come, at least not yet:
This wave is characterised by rock-bottom commodities prices, stalling growth in China and other emerging-markets economies, and low global inflation, Goldman Sachs analysts led by Peter Oppenheimer said in a big-picture note.
This triple whammy has its roots in the response to the first two waves of crisis — the banking collapse and European sovereign-debt crisis — and it is all part of the so-called debt supercycle of the past few decades.
Unfunded liabilities for pensions and other state benefits are threatening the security and future of an entire generation of retiring, hardworking Americans.
The debt will be shifted for as long as possible… but eventually, someone will have to come to terms with it. The black hole totals up to huge sums of money; no one can pay; and the system is bankrupted, or services rendered become inadequate and farcical.
Forbes contributor William Baldwin describes the acute problem of “death spiral states,” which could actually be as bad as it sounds. It affects dozens of cities and municipalities as well.
Does your state have more takers than makers? Check it out.
California has a powerful economy, with 14 million private-sector jobs. It also has burdens: welfare recipients (12.6 million), generously paid government employees (2.1 million) and people collecting government pensions (1.3 million).
Add up the numbers. There are 114 clients drawing from the government for every 100 people chipping in by working outside the government and paying taxes. We’re calling this the Feedme Ratio. Six states have a number over 100.
These states are at risk of going into a downward spiral in the next recession. The burdens will remain but too many of the providers—employers in the private sector—might shrink or decamp.
Right now, the biggest risks for a bankruptcy or collapse is in the these states, based upon the ratio between what Baldwin terms “makers” and “takers.” Basically, the socialist state is enveloping all prosperity:
• New Mexico – 148 dependents per 100 private sector workers
• West Virginia – 116 dependents per 100 private sector workers
• California – 114 dependents per 100 private sector workers
• Mississippi – 111 dependents per 100 private sector workers
• New York – 108 dependents per 100 private sector workers
• Arkansas – 103 dependents per 100 private sector workers
Detroit and Chicago top the lists of cities who wouldn’t be healthy in the ratio of makers/takers either, and would crumble in a debt crunch.
You can check on your state via this interactive map, though it is dated slightly to 2015.
A score under 100 means that the state has a net number of providers, and is theoretically on more solid ground. However, the pressures are endemic in the system, and no state is immune. For instance, Texas has a healthy score of 66.7; yet, the city of Dallas just announced that it is suspending pensions payments to city rescue workers and employees. There’s a serious disconnect.
Once things go downhill, violence, crime, looting, riots and the like become chronic problems. The police state presence is also an issue, and society goes on edge.
Everyone can feel the sinking depths, and order is about to implode. When things go primal, you do not want to be around to get caught up in it.
Being inside a major city on the day that the ATMs stop spitting out cash, or EBT cards don’t work will be an incredibly dangerous day. Relying upon government bureaucracy and functioning technology to meet your vital needs is never a good position to be in during an emergency situation – be it economic crisis, hurricane, power grid failure or something else.
Joel Skousen [amazon text=described in great detail how to avoid&asin=1568612621] the urban areas that will become completely dysfunctional nightmares at the first sign of a major emergency.
Your retreat should be strategically chosen to lay outside of certain regions, military targets and fragile climates. Knowledge of the back roads is essential to planning a route that won’t leave you stranded on the highway in endless gridlock.
Above all, it is advisable to avoid mass populated areas, especially big cities on the East and West Coast. People that are prone to panic, and will be easily cut off from essential services become desperate. There are far too many bad apples in that ratio for any good to result.
Avoidance is key – and that is why living in a “death spiral” state like California or New York could be a major liability during a crisis, or alternately a prolonged collapse.
CalPers pension… a massive black hole that is merely carving a path for many failed states to come.
The future is austere if this equation isn’t balanced out:
Tom Chatham warns about the abrupt change that is coming home to roost in America. Things can get really bad, really quick.
But really, most of us don’t know how bad it will get:
Americans that have only known the post WWII prosperity are ill equipped and educated to deal with depression level living. Easy credit and instant gratification have created a nation of whining, self absorbed, entitlement minded people with no moral or mental toughness.
Doug Casey believes we are headed for what he calls a super depression created by the ending of a debt super cycle. The bigger the debt cycle the bigger the depression that follows. That’s how reality works and most people are not prepared for reality.
When this depression, which has already started, gets momentum, it will overwhelm the plans of a society that is expecting to get things like social security, pensions and payouts from retirement plans they have paid into for many years. All of those things will disappear almost overnight and leave society gasping and stupefied over what to do.
The big reveal is coming: inside that great big old lock box… is just another I.O.U.
Are you prepared for the future, and all the economic uncertainty it could bring?
Read more:
Screwed Over Retirees: Dallas Suspends Withdrawals From “Insolvent Pension System”
Goldman Sachs: The Third Wave of the Financial Crisis Is Upon Us
5 Urgent Warnings From Big Banks That the “Economy Has Gone Suicidal”
2008 Repeat Coming, Says George Soros, Harbinger of “Impending Financial Markets Crisis”
It Took 22 Years to Get to This Point
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“Neither a borrower nor a lender be, do not forget, stay out of debt. Think twice and take this good advice from me, guard that old solvency. And just one other thing, you ought to do, to thine own self be true.” Our so called leaders are damn fools.
https://www.youtube.com/watch?v=aRzzSHRAGYk
Genius, “Airplane” was one funny movie.
Think I will add another 500 lbs of rice, 100 lbs of sugar, and another 100 lbs of flour to the stash. 🙂
Florida did not even make the list, since we are solid financially, charged NO State Income taxes, rural land $100 per acre per year, plenty of fresh water, homestead exemption protections, awesome 2nd amendment carry laws, amazing year round mind weather temps, 1350 miles of coastline for salt water fishing, and all the tourists pay the bills in sales, hotel and airport taxes.
If you are still living in one of these bankrupt states on the list above, paying massive property taxes, state taxes and under funded pensions systems working as a slave for the state. Shame on you for your bad decisions. And enjoy freezing your asses off this winter watching your lives’ go by.
And How much to buy vehicle licence per year in florida? How about the tax you pay per square ft on the roof and paved area. How about its illegal to collect water in a rain barrel? How about when the whole state floods because of the end of an age earth change that happening. How about you have to run air cond full time? How about all the friggin mosquitos? If your vehicle is over 20 years old in Arkansas you get a antique tag that never needs property tax on unimproved land about 7 dollars per acre. It cost about $30 per year to licence vehicles. Out in the county no building or land use restrictions. no building permit required. if you have ten acres or more no septic requirements. The author of this article don’t know diddly squat about Arkansas. Ill is far worse.
Old Guy, I spent a few years in FL. It’s worse than what you just said.
B’ heart: Florida is much worse. We had to leave there in the 80’s, no jobs worth having, pay is low. Several families I knew left about the same time (early 80’s recession). After reading article, realize not a time to start a family, as younger people will not have a future of prosperity like the baby boomers had overall. Many who paid into pensions, 401k’s and SS will be shafted.
My Brother lives in cape coral. He pays more to buy tags for one vehicle than I pay to buy tags, pay land & property tax on everything we own.
Yeah but your state has a flush handle as its symbol. Small wonder when you live in a poor poop-hole as you do.
In Arkansas most fellows go to family reunions to get dates, that’s why the most popular greeting card there says “Happy Birthday Uncle Dad”.
There s a bit of truth to the cousins marrying . When Arkansas was first settled the first folks where men who received land grants for their service in the war of 1812. and there where very few women. And they kept outsiders at bay. So inbreeding was common. After the civil war carpet baggers brought in new bloodlines. however read the obits and it seems everyone is related. That’s Ok please don’t come to Arkansas. We don’t want or need you all. We uns are doing just fine by ourselves.
That’s ok. You can have your heat, your beaches. Your pancake flat land. Your bugs, your snakes, your gators. Your hurricanes too. I’ll take my rain, my mountains, my skiing, my winding roads for days. My rolling hills and rapid flowing rivers. My Salmon over your carp so to speak. I’ll swim where ever I want, no sharks no gators. No worries. Enjoy thinking that state is best. I may be behind enemy lines in Washington. But I’ll take my scenery over yours any day of the week. Merry Christmas, mine will be white….
Durango kidd: Those that are into paleo diets need to stock up on canned fish and meats, we avoid rice or flour products. Another thing to stock up on is sunflower seeds, almonds, coconut oil, olive oil, etc. (paleoleap.com). But if someone offers me a pc of cake, I’ll eat it. Most food storage is high in starches/grains.
Menzoberranzan, a truer statement was never made. I fell into that debt trap for a while – it took a long time to crawl out of that mess.
No doubt friend. Me too. Never again.
Menzo and Cranerigger, I can honestly say I’m debt-free. No loans or credit cards or any of that shit. All my transactions are done in cash. I’m always able to buy more preps at one time than a lot of other people because of no debt of any type eating me alive. Being debt-free is awesome.
Why are people so worried about debts in depression times ? On things that don’t have titles and can’t be repossessed ? It would seem the thing to do would be draw all your available credit out of ATM machines and keep it or buy gold and silver with it, There will be a whole lot of no paying bills going on for anyone to pay any special attention to yours ! ?
During the Great Depression, banks looked for customers who had money. You could pay your mortgage off for ten cents on the dollar. They don’t want to call a mortgage on someone of no means, because in a crash there are few buyers for the property.
If you have that ten cents on a dollar, it better be in a different bank than your mortgage. You don’t want them just taking the money, and say you still owe them the rest.
In my book debt for real property is ok, so long as you also have savings in excess of ten to twenty percent of the property value.
If you have credit card debt from eating meals out, fancy cloths, and buying toys, you are making a huge mistake.
Don’t be stupid in a Financial collapse. Never put any of your assets in the same place as your Liabilities. Another words don’t have your Savings account or paycheck deposited in the same bank or credit union as your $10K credit card debt, or car loans, as they will freeze your deposit account to pay your debts off. And yes, you signed off on that banker control, when you opened that bank account, so they have the right to do it. Read the fine print as it is a Bail in to seize your assets.
Yes, if you think there will be a massive financial collapse soon, that most cannot escape, get your ducks in a row, right now, today ASAP. Yes, Go max out your credit cards on Silver 1 Oz Rounds and hide it. They can’t confiscate your assets they cannot find. Pay your car loan off before your credit card and get your “HARD COPY Auto Title” in Paper Title Certificate. DO NOT (NEVER) use a State’s DIGITAL TITLE service, as the State can seize your Auto Title with a click of the mouse, if it is in DIGITAL FORM, to cover some other debt you owe or in a bankruptcy. If your Paper Title is not in your hand, you don’t own your auto, even though the loan is paid off. You can always drive to another state and sell your car with a paper title if needed, to cash out your equity to survive on.
Pay off your Home first before unsecured debts. Get your Property Title free and clear as well, and put your property into a Land Trust. Even if you file bankruptcy, you are just a beneficiary to live on your property in a Land Trust, as the trust owns your property and not you personally. But you can still control the assets within the Trust. That will save you from getting your land seized even in a bankruptcy or Tax Levy or Lien from Federal Tax collectors.
Get all of your assets out of every bank and financial institution including any Un-safe deposit box ASAP Today, and flip that paper money into real hard currency like Silver and hide it, or cache it like a buried treasure in multiple places, some not even on your property. Yes Gold may be seized, banned or outlawed to be traded, but silver will not be, just because of its industrial uses. Plus silver can be used for barter in smaller amounts than Gold
Be smart people, the Cash Bans are coming here too, and as the stock markets tumble, as they should, get out of the way of financial ruin. If the entire economy collapses, you will fall also. Your credit score won’t mean squat anyway, as nobody will be lending unless you have something tangible assets to secure the loan with, like a car or land. Cars may not even be loaned on as collateral, as they will all depreciate in an EMP, or in the current situation of the used car sector bubble implodes. 1/3rd of all Auto sales in the US, are in in leases and they are all coming due in Dec. And the market place will be dumped on with a massive influx used cars that were leased 3 years ago. Its another bubble about to burst along with subprime auto loans going in default as people live paycheck to pay check. There will be cars piled on top of each other idle.
Be smart in a collapse that is coming, every day you work, to protect your self financially, will prolong your survival. “Structured Financial Prepping” is what everybody needs to be doing right now, as it seems to be our greatest threat in my opinion.
You make a good point. But the problem is timing it all so you can run up the debt with no collateral, realizing you will not have to pay it back because in a serious RESET or disaster there would be no repayment of anything. Like everything the timing is the real issue , hey ?
Banks WILL come after you and take what little you have. Not only that, Have you ever tried to rent a apartment with bad credit? Even getting a decent job these days requires a credit check. A neighbor of mine decided to quit paying on his 20k of credit card debt and thought that there was little they cold do because he did not have anything. But, he did have a paid off car worth only 2k and 6 months later. The debt collectors took it from his driveway along with everything else he had in his car.
For titled items put them in a trust. Once your trust is registered you can open a bank account in the name of the trust. You do have to send in a separate tax report to the IRS.
What a great collection of sayings, thanks for sharing them. I have no rhyming sayings, but I will add, don’t put all of your eggs in one basket, and the borrower is slave to the lender. I’ve been debt free for several years now and believe when the SHTF it will give me a bit of a buffer when the wolves are howling at the door.
“What a great collection of sayings, thanks for sharing them”
Your welcome 🙂
Mac,
Surely this is an incorrect statement!!! “Relying upon government bureaucracy and functioning technology to meet your vital needs is a good position to be in during an emergency situation.”
Don’t you mean NOT a good position?
Wilson, I’m sure Mac just made a typo error.
Wilson, isn’t it awesome to be debt-free? I’ve got my own buffer as well.
Ive been debt free for decades. Just sold some unwanted stuff and have over ten grand to spend on something? We Don’t need or want anything? I suppose we will buy some more land.
Land is a burden because of yearly taxes and upkeep. Get something that will save you money like SOLAR or other alt. energy things. Maybe get some small farming equipment or a backhoe. You can make money with those.
Ive already got a backhoe and bulldozers. & farming equiptment. and a sawmill and all kinds of tools and animals ect. I aint gonna waste money on solar. I know how to live without electricity. And after SHTF there will not be any internet. I prefer 12 volt. Its simple and cheap. Ive never lost a penny on buying land. Ive bought land and sold the timber for more than I paid for it. If you own land you can legally keep other folks off of it. All the game is yours.
In a depression, developed land is a loser. Undeveloped land or farmland will lose a bit, but will retain value better than any other type of real estate investment.
Wilson I have been buying things for years I know will barter. Not to mention I have become a farmer.
Those are “lyrics” from an episode of “Gilligan’s Island” in which a musical of Hamlet is proposed.
William Shakespeare
Here’s a saying. They raise the taxes on your land in a devistated economy and when you can’t pay it they confiscate your land. Haven’t you watched . Gone with the wind? Even if money was worth anything there’s nothing to buy. There’s nothing to buy . Let that sink in. All your gold and silver. There’s nothing to buy. In the short term yes . In the long term yes. But in the immediate . You better have beans and rice.
Wow, oh wow; Arkansas, Mississippi, and W. Virginia are three of the reddest states around. These half-witted inbred mutts who like to think of themselves as the freedom loving conservatives are also the biggest bunch welfare queens. There are more red states on welfare than blue, but how can this be? If you’re all that tough, then refuse government assistance like the real men you pretend to be!!
sadly the smokestack jobs are all gone. and working part time jobs at places like wally world don’t pay enough. so many folks do receive food stamps. however to be honest that applies to just about everywhere. Myself ive never received any food stamps or nothing. Ive always owned land I didn’t live on. Yep people like the klintons and obummer have turned the once Democrat state into a Republican stronghold.
America already collapsed when the US constitution became NULL AND VOID by the TREASONOUS actions of the genocidal psychopaths controlling the US Government.
THE FEDERAL RESERVE, SPREADING DEATH AND DEBT SINCE 1913.
Do you have a mortgage.
Do you have credit card debt.
Do you have a savings account with more than a $1000.
Do you have a car loan. Include boat, RV etc.
Do you have student loans.
Do you have medical bills.
Do you have trouble paying your utilities.
Can you afford to buy enough food for yourself and family after expenses.
Do you have Life Insurance.
Do you have car insurance.
Do you have home insurance.
Do you have cell phone and internet costs.
Do you have an addiction. Shopping, Drugs, Food, tobacco.
Do you have investments.
Is your job safe.
Lots of stuff to consider before and after. Each has its own dollar amount in cost.
Do you have a mortgage.
Do you have credit card debt.
Do you have a savings account with more than a $1000.
Do you have a car loan. Include boat, RV etc.
Do you have student loans.
Do you have medical bills.
Do you have trouble paying your utilities.
The answer is NO.
Can you afford to buy enough food for yourself and family after expenses.
Do you have Life Insurance.
Do you have car insurance.
Do you have home insurance.
Do you have cell phone and internet costs.
Do you have an addiction. Shopping, Drugs, Food, tobacco.
Do you have investments.
Is your job safe.
The answer is YES.
Genius
Great response. Took me by surprise.
Hand made cigs… 1 dollar a pack
cell phone….. 31 per month
internet….. 30 per month
alcohol…. 20 dollars per gallon (except beer)
Power bill… 40 per month (solar enhanced)
Learn how to cut expenses and you can live well…
Genius
I just type that post out with the intention of trying to gage where people are in their lives. Depending on you age can influence the results. Also what would be the one item they would protect most and what expense would they cut or default on so they can save that item.
I hope the list covers items that are common costs along established households.
Seriously, do people still deposit cash into a Bank Savings account? bwhahahahahahaha Stupid is. That’s why home safes are in such high demand right now.
Go get a fire proof floor safe, you can sink into the cement floor and hidden with a rug or something, or in a wall. Hell go buy some PVC and end caps with one end screw off and bury the cash with a moisture absorber so it does not get moldy. But for cripes sake Never put cash into any bank. An IRS agent told me that any money you deposit into a bank is considered income, unless you can prove differently. So cash the check drawn on the writers bank and take the cash. If you cash it at your own bank, the bank deposits it into your bank account then draws cash leaving a paper trail.
I never have anybody write me checks, so this is rarely used on my end, but people be smart. Stupid people pay unnecessary taxes. Oh and the IRS is pretty Privy now to Paypal Accounts and will find it. Same with Bitcoin. Its all a paper trail.
“Learn how to cut expenses and you can live well.”
Take care of your liver, (among other things) and you will!
🙂
Where does a man aquire liquor for $20/gl?
MD 2020
That stuff el kill you! Liquor ain’t got shit on that rotgut wine!
Menzo, that guy Jibbs brought back a bad memory for me. I tried a bottle of MD 2020 when I was 16. First and last time ever touching it. Talk about being sick! SHIT!
I drank many bottles. Will never forget the hangover hell it creates
I can recall Boonesfarm gut rot in my teens. uggg… Black Berry Brady was pretty sweet. Keep in mind all that gut rot liquor is filtered through your liver, so if you like holes in your liver keep drinking the poison stuff.
And that brings up another Threat in a collapse, Alcoholics that can’t get their liquor, will go Batshit crazy, so pay attention to those in your area that are alcoholics, They will turn on you, rob you, steal from you, if you back is turned to get a bottle, just like druggies.
My mom, who rarely ever drank, was 5 feet tall. She drank a pint of MD2020 one night and beat the hell out of my dad, he was 6’2″ and about 220. That shit was funnier than anything I ever saw.
It starts with mash.
Time, learn to make your own lol 😛
I like aroma that the “cap” puts off when I take the lid off the mash tund to check it.
While I enjoy luxuries as much as the next guy the only bill I have to pay is $39 a year in property taxes. After much research I moved to West Virginia years ago to endure the next great depression and while it is true they do receive a lot of entitlements because our incomes are low what people don’t realize is that we don’t need them. I’ve stood behind people at Walmart with $800 on their SNAP card because being very rural (one city over $50,000) much of West Virginia is self-sufficient. Ask my neighbors how many deer they got this year and you will get numbers for in season and out. We also have big gardens and big lakes. Not only is game plentiful, but we also have plentiful timber, natural gas, and water flows right up out of the ground. State residential building codes are only applicable if adopted locally so an estimated 10,000 homes in this state of less than 2 million don’t have indoor plumbing. I paid $5,000 cash for several acres on a public gravel road with public water, electricity, natural gas, and cable (too remote for cell service), but am not required to connect to any of it so instead spent another $5,000 building a cabin that provides its own heat, meat, power, and water without any government interference. Many homes and farms were last during The Great Depression, but my property taxes are only $39 a year. Best of all people here are used to being poor so a collapse is not that much of a shock. I chose wisely.
Yes, you did. Wife and I are in a similar situation.
My property taxes are $5.00 more on several acres.
Amen! Fellow WV prepper here living near the Shenandoah River. Cash in the bank (no debt), guns and ammo in the safe, liquor stored in the garage, and ready for the Trumpocalypse!
it’s MUCH WORSE than mac says in the article….there are probly a HUGE majority of people that “work” who don’t pay hardly ANY taxes….a LOT of those get more BACK at end of the year than they contributed.
Every company that pays taxes passes the cost to us. The company just raises there prices to compensate . We are being totally brainwashed. ?
BCOD, the whole country will be in a death spiral before we know it.
We don’t need no stinking bankers to tell us how bad it’s going to get.
__
Exactly, it could get very bad. With a “derived” gambling debt of 179 times global GDP only a debt jubilee payable in blood will suffice.
If you owe the bank $5000 you’re in trouble. If you owe the bank $5 million, the bank is in trouble. It’s all relative.
hmmm….we owe the “bank” 20 trillion…or is it 230 trillion??….a trillion here, a trillion there, pretty soon we’ll be talkin’ about real MONEY.
What we’re seeing here may be a sign of the coming times.
Rain and winds blew down power and telephone poles a couple of weeks ago.
We are still driving over one set of lines across a main road and another is laying along side the road maybe a couple of feet inside the roadway.
We don’t know if they’re phone or power lines.
No one fixes it and between the power co. (a quasi-“independant” one) and the phone company, (private, Clear)neither wants to put in a new one and replace wiring.
There are power poles everywhere leaning at odd angles and many with trees growing under, over and through them.
And the roads are falling apart, but that’s most places.
Small outlying government offices are closing and moving to the nearest larger city.
When main stoplights go out, police are no longer there directing traffic. There were fatalities during the big power outage because of this.
Still, life is good.
People, enjoy every day as much as you can. You could say these are the good old days even with the shtf on the horizon.
Enjoy the last days of ‘prosperity and happiness’ (both in decline) in America, and most places in the world. When the SHTF, it will all fall apart and go down much faster than you might think. Very dark days are approaching, very fast. And as the article says so elegantly…”Americans that have only known the post WWII prosperity are ill equipped and educated to deal with depression level living. Easy credit and instant gratification have created a nation of whining, self absorbed, entitlement minded people with no moral or mental toughness.” And that’s it in a nutshell. In the last great depression, most folks were self-reliant, rural, and independent. Just go to your nearest mall or Walmart, and behold the masses of demoralized, ignorant, dependent sloths……need I say more.!!!!!!!!
J, well spoken. I’m morally and mentally tough. Never self-absorbed. Never whine about anything. I also realize and respect that no one owes me a damned thing and I prefer it that way. I’ve always lived within my means. I don’t go for any loans or credit card to buy something. if I don’t have enough money for the item, I just wait until I have the right amount of money available. There’s a lot of stupid things out there I have no desire nor use for.
Trump is here to save the day’ Do not worry thing’s will be ok.
Everything keep’s going on till the end. and the end is always a long way away //
Alls’ I can say is it cant come soon enough.
The six States are Liberal. We all have to live on what we make. Not on other peoples money
The Refugee Resettlement Program needs to be defunded and all illegals deported immediately. I don’t care how many are here because of those stupid “Anchor Babies” They can all go back to where they came from along with those anti-American muslims who hate us from the get-go.
I think a lot of these freeloaders will go back to Mexico when the collapse occurs.
If we didn’t have the influx of all these third world cultures, pretending to be as good as the American culture, demanding that things be done their way, we could sort it out for ourselves (without the input of the “Progressives”).
I live in a state on the list of six. Just barely, but it still made it. However that same state is near the bottom on the underfunded pension list. Does this make it ok or not.
Anyway, only debt is a mortgage but have quite a bit of equality there. And my cash on hand is nearly equal to my PM’s on hand value and all of that is nearly equal to my 401(k)’s and my checking balance. Am I still ok because I’m diversified? Also, where can a man buy bitcoin w/o getting ripped off? And is it worth the hassle?
Be advised:, you can stop debt collectors cold…, if your debt is unsecured by any collateral. Just tell them that you are a living breathing person, and the debt is owed by your straw man. Because it is your straw man that has a social security number…,and a bank account, not the real you. Of course you are not supposed to know that. Any time your name is in all capitols…, they are addressing your straw man…, not the real you. But they will trick you into believing that you are your straw man…, if you let them.
Very Interesting
http://www.yourstrawman.com/
All of that is bogus. My name is not in all caps on my birth certificate. Nor is it on any of the other birth certificates that I have seen, including my parents and my siblings.
This may be correct, but it certainly does not work. Go ahead and try it if you’d like. I did.
I live in Arkansas. And its actually a solvent state. We have a balanced budget requirement. The state government cannot spend more than it takes in. Even when Slick Willie was governor he couldn’t spend more than was already in the coffers. the game and fish and state parks generate a lot of their own revenue and both agencys have a sales tax earmarked for their operation. They receive not a penny from the legislature or the governors budget. Arkansas receives a great amount of dollars that isn’t addressed in the article. I repete the state of Arkansas is not carrying a debt burden. Certianly the state government like many others has gotten to big for its britches. And many parasites need to be given the boot. I live in the poorest county in the hill country. The state government could cease to exist and we wouldn’t hardly notice.
Old Guy – I was gonna say something similar. Arkansas and West Virginia may be poor, but most of the poor know how to ‘get along’ -as opposed to those other states. But the picture shown here is just a part of the collapse scenario. It’s not just ‘the poor’ – but there is a HUGE overhang of ‘guaranteed’ state and city pensions that make Illinois and Kentucky a lot more dangerous. And some of that danger becomes more important when the answer that the state has is to raise property taxes. You can adjust income – but you cannot hide from property taxes.
Property taxes in Arkansas are very low. And homeowners get a $300 property tax exemption. sales tax is 10%. A lot of tourism revenue. fishermen in summer. Duck hunters at present. lots of really clean rivers and lakes. and its cheaper to live here. the wealthy who set property taxes own lots of property. They will not raise taxes on themselves. There are lots of the nomadic type residents. they own a lot at a place like greers ferry. and live in a motor home. they spend the fall and spring here. go to places like Wisconsin the hot summer and florida in the cold winter. They carry everything they need with them.
But they don’t know how to fix their roads and let assholes in pickups drive 95 miles an hour!
To figure out this debt position, one must look at the REALLY big picture, because it isn’t just about banking and government infrastructure projects where countries have fallen behind in their payments.
Add to the equation the TRUE cost of maintaining an army that, for all intents and purposes, has served as the Mafia enforcers of the elites seeking to get all those countries which might have had some dream of independence, back into line with globalism, and what we have is an elitist class of parasites who owe at least the US for its “protection and thumping services”. Maybe after careful consideration, we will find that the elites actually owe us money instead of the reverse.
We don’t owe them SQUAT, but they will do ANYTHING to preserve the illusion that we do.
Yes they don’t work. If you don’t work you don’t eat.? They have rigged the system. They don’t do anything. There management companies do it for them. How many of these people can we support?All the kardasians ? Do they make or grow anything ? Talk about useless eaters. They buy houses clothes and furniture? And contribute or put back what? Can we survive whithout them? Too many live off interest. Time to burn the Tares?
And where is the Great State of Alabama on your Chart of States? Where will you be when ALL food if gone? Are we going to turn into Cannibals to survive? And who are the ones that will be taken? Senior Citizens, Children. Think about it. If the SHTF lasts for one year or less, what do you do next? If you have plenty of food and other necessities, will you share?
Heck no I will not share. I will take care of me & mine. Everyone else is free to do the same. When SHTF it will never be over in anyones lifetime that’s alive today. The 90% die off will happen in less than a year.
Remember this is about burning the Tares . If you help the Tares to survive you are going against Gods plan. Isn’t it obvious? The hardest sacrifice wil be letting your Tare close relatives be burnt. Do you think you can pollute the new world because there family? You will condem yourselfe? There are always hard choises? That’s why they call it the tribulation. If your brother is scum. Do you help him . The Tares must burn weather you like it or not. It’s the only way? And it is written.
Seeing that the State of California is one of the six states???? No surprise to me at all. None whatsoever! And they want to secede from the Union???? They’re welcome to do so.
Every damn state should sink that gives a pension or handouts that exceeds a WORKING mans pay!! I’m sick of this let, the whole world collapse ! We need a good cleaning!
exactly, wonder why only government, tax supported leaches can opt out of social security, while we are forced to contribute 13% of our earnings. they should receive nothing better than what the working man paying their salaries receives.
Let the whole thing collapse ! Any state that passes out MY money without my approval deserves this! In addition any state that gives away hand outs to the worthless who ends up making more than a working man derserves the sh$@ storm that’s coming!! I can hardly wait ! The good lord needs to flush the toilet SOON!!
I wonder if our only hope is genetically selective bio weapons?
Sorry for the double post folks ! Kinda got carried away when it didn’t post as soon as I wanted!
Credit, debt, gold bars, stock pile of food won’t matter because its all mine when the SHTF? 🙂 Fifteen men on a dead man’s chest, yo-ho-ho and a bottle of rum… Drink and the devil had done for the rest, yo -ho-ho and a bottle of rum!
Lets not forget WW3 on the horizon.
What causes war?
Economics, Religion, Greed, Jealousy ?
I remember the movie THE DOGS OF WAR.
The world is running out of commodities one day we will go to war over RICE.
I think we are here folks.
The list of 6 states here lacks a “dynamic scoring” component. Up until 2011, the federal government produced an annual report on the amount and percentage of income in each county/location (~3,400 of them) that came from the federal Government. At the top of the list in 2011 was Falls Church VA. My county was #11 of ~3,400 at well over 90% of county income. When the economic crisis strikes, federal revenue, and inevitably spending will tank, and these locations will be among the most vulnerable. So I propose the “Feed Me” ratio be modified by adding ~66% of those dependent on the federal government for a pay check. The list of death spiral states looks a little different with this factor included.
It would also look different if the magnitude rather than just the number of earned salaries were taken into account. Places like NY and CA have large numbers of extremely high salaries which only count one each according to this schema. For better or worse, they’re situated quite differently from a place like NM or WV.
Here from Zerohedge, to complain in strongest possible terms, etc. But really I felt compelled to offer a comment on this paragraph.
Much of it is true. In particular for older Americans, and I would stretch this to include just about anyone over 40 and especially baby boomers. They will be very hard hit. Frankly, a lot of them will literally die from the shock of even mild effects like rolling electricity outages, or $5 milk, or $200 gasoline prices, or no money for foreign vacations. Middle aged Americans with mortgages and kids will become — to some degree understandably — enraged, when they encounter that first Christmas where their children have to make do with hand me downs, or simply have no idea what a Disney movie is anymore (the little things like this are what REALLY sour people).
But. Your assumption that younger Americans (read. millenials) are in some sense unprepared is I think, a combination of too much cynicism and not enough experience. While much has been written about millenials, one point which can be made is this: They have little money, and expect little in their futures. In a sense, millenials are half-way to prepared for the crisis. Not because they expect disaster, but because they expect misery.
Pension funds? Retirement? A home and a family? A millenial craves not these things. No really. They gave up on them about 5 years into this recession. An adjustment is already taking place, in culture, economy, and politics. Collapse is a process, not an event.
But… Isn’t the deal with “owning” your property that the TAXES will still skyrocket and you will lose it all anyways? With no jobs and the govt NOT taking chickens or such as payment – pretty soon in a major collapse the government will own all property. Maybe that’s part of the plan?
property tax rates are set by the state and county. The folks who try and raise taxes are held accountable. The state of Arkansas does own a lot of tax forfeited property. And they don’t want it. They would rather have the tax revenue. Type in COSL. you can buy tax land at public auction or from the Post Auction Sales list. I personally have bought more than twenty parcels of Tax land. We bought two parcels this year. in total 7 acres paid about $1200. I sold the White Oak logs off 4 acres for over $2000. All I had to do was cut them down and skid them next to the road where a truck with a knuckle boom loader could reach them. Im burning the tops for firewood at this very moment.
So what about he 18 states that did not make the “Underwater” list?
New York, for instance, did not make the list and yet appears deep purple on the “death spiral” chart. Oregon is deep magenta on the chart but again is absent from the list.
That makes your argument seem incoherent.
TOTAL RECEIVING BENEFITS 163.0 MILLION PEOPLE… OVER HALF THE POPULATION GETS A TAXPAYER HANDOUT !!!
124.3 million full-time workers supporting …
325.2 million people. Might as well say “three fucking one.”
yet only 42.8 million people are living in poverty of the 163.0 million people that mooch off the working taxpayer. It is amazing we pay half the population to mooch.